Walgreens Boots Says Predicting Effects Of Pandemic Difficult
April 02 2020 - 07:49AM
Dow Jones News
By Micah Maidenberg
Walgreens Boots Alliance Inc. generated stronger-than-expected
sales during its latest quarter, a period that preceded the start
of consumer stockpiling of food and other goods because of the
coronavirus.
"Given the many rapidly changing variables related to the
pandemic, at this time [the company] is not in a position to
accurately forecast the future impacts," Walgreen said
Thursday.
Deerfield, Ill.-based Walgreens reported $35.82 billion in sales
for the quarter ended Feb. 29, up from $34.53 billion a year
earlier.
Analysts polled by FactSet predicted $35.27 billion in sales for
the latest period.
Earnings dropped to $946 million, or $1.07 a share, from $1.16
billion, or $1.24 a share, a year earlier.
Walgreens' cost of sales rose to $28.31 billion from $26.77
billion, crimping gross profit.
The company said it earned an adjusted profit of $1.52 a share
for the latest period, 6 cents more than analysts forecast.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
April 02, 2020 07:34 ET (11:34 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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